The House GOP's Steering Committee is set to meet next week to decide on the committee chairs for the 119th Congress. The focus will be on selecting a new chair for the House Financial Services Committee, as current Chairman Patrick McHenry (R-NC) is retiring. The new chair will play a crucial role in shaping the financial services agenda under President-elect Trump's second administration, dealing with legislation on topics ranging from CFPB reform to cryptocurrency and banking.

Four members of the House Financial Services Committee are vying for the position. Each candidate has presented their case, highlighting their experience and vision for leading the committee.

Rep. Andy Barr (R-KY) expressed confidence in his ability to lead, stating, "I wouldn’t be running if I didn’t think that I had the experience and the vision that we need to lead the committee and make it both an asset for the conference and, more importantly, the country." His focus is on promoting free market capitalism as part of an "America First" strategy. Barr plans to advance his American Dream Act within his first 100 days if selected.

Rep. French Hill (R-AR) emphasized his extensive experience in financial services across both private and public sectors: "​​I’ve spent four decades in financial services...which means I have contacts in policy development all over Washington and all over the country." Hill aims to enhance community-banking policies under Republican leadership, having previously opposed certain CFPB proposals.

Rep. Bill Huizenga (R-MI) highlighted his collaborative leadership style: "You know, my leadership style...is to be very collaborative." He intends to focus on reversing actions taken by SEC Chair Gary Gensler if he becomes chair.

Rep. Frank Lucas (R-OK), who has chaired two other full committees, noted his extensive experience with financial service hearings: "I’ve sat through more financial service hearings in the last three decades than anyone should have to do this side of purgatory." Lucas prioritizes access to capital based on challenges observed in Oklahoma.

Each candidate brings distinct priorities and experiences as they compete for this influential role within Congress.